This is 4 Types of Life Insurance for Employees
This is the 4 types of life insurance for Employees - Good companies usually already have a protection system for its employees, at least for the protection of health in the form of health insurance. Moreover, nowadays, there are government regulations that require companies to participate in the insurance program Health. Some companies even provide extra insurance from private insurance companies for their employees.
If the program proved less, then there is no harm in starting to turn to additional insurance to protect yourself. There are at least two insurance products that need to be considered, namely the insurance of health and soul. What are some considerations to think about before taking additional insurance products? Reviews below will help you.
If you have already joined the program to additional health insurance or other insurance and feels there is still less, then it's worth taking the extra insurance. Consideration the following one:
1. Current Insurance Coverage Value or class of service beyond Expectation
Health insurance have a separate service class corresponds to the premium paid. If you feel a given service class does not match expectations, there's no harm in looking for additional insurance. Likewise with life insurance, whether the given sum assured is already big enough or not.
2. Not comfortable with the Insurance Service Office
One thing that makes most uncomfortable in the insurance programs is a mechanism claims. If insurance from current Office proved troublesome for example hospital services limited, or high mobility while the claim process is difficult and troublesome, then it's good to consider additional insurance take another.
3. What is the budget for the Purchase of additional Insurance?
This factor is most important to be used as the primary reference. Do not force myself to join additional insurance will overload the monthly outlay to make you instead frequent stress.
Life insurance less attractive because the effect is identical to the protection the death could not be enjoyed by the insured itself. When in fact it is not so.
The airline eventually develop its own insurance product life insurance this into 4 types and thus more easily accepted potential borrowers in accordance with his needs as follows:
1. Life insurance Futures Exchange (Term Life Insurance) - Cheapest among Other types of life insurance
Types of life insurance provides protection to policyholders in a certain period of time according to agreement such as 5, 10, 20 years. Beyond that period of protection will expire (expired). Suitable for those who want maximum protection with a limited budget and in the desired time frame. This cheapest insurance premiums than the other, but the risk is if no claims occur then the total premium paid will be forfeited.
Characteristics Of Life Insurance Futures
- If there is a risk, for example, accidents or death during the period of the contract then the insurance will provide a number of financial guarantee in accordance with the provisions in the policy to the beneficiary.
- If the insured does not suffer the risk until the expiration of the contract then the insured will lose the money you have paid to insurance companies. It's just that the customer should not feel regret it, instead she should be thankful it's still given health until the contract is completed. So the principle is more toward just in case if there is a risk that cannot be borne by yourself.
Advantages and disadvantages of life insurance Futures
- The cost of the insurance premium is lower than other types of life insurance, usually $25/month or in accordance with the financial ability.
- The obtained sum assured is big enough, even reaching billions of dollars, and will only be provided by the insurance company if the insured is not able to family because of health problems or died during the period of the contract is still active .
2. Whole life insurance (Whole Life Insurance)
Whole life insurance or Whole Life Insurance is intended for clients who want to get lifetime protection. In fact more precisely for the protection to age 99 or 100 years in accordance with the provisions of the policy.
The Characteristics Of Whole Life Insurance
- Whole life insurance can give you the cash value of the policy that was already paid in a given period, according to agreement within the polis.
- The premiums already paid before it can be used to pay premiums in the next months if the customer is experiencing financial constraints.
- Insurance premiums will not be forfeited if no claims and overall can be taken when the contract period ends according to agreement within the polis.
- Premiums were paid relatively high
- This type of insurance is suitable for customers who want to get lifetime protection yet still get the benefits of cash so that it could be an alternative to savings accounts, though its value is not great.
3. Life insurance Dwiguna (Endowment Insurance)
Types of life insurance offers 2 benefits as futures and insurance savings. This product combines futures and insurance savings that can be withdrawn at any time before his contract ends, in accordance with the agreement.
Characteristics Of Life Insurance Dwiguna
- Product life insurance has many variations.
- It is usually packaged as a child education insurance, pension insurance, and so on.
- Many of the options contract period with the agreement of nominal value nominal savings and disbursement of the sum assured
- It has 2 types of insurance benefits, namely the benefits of living and benefits. This means that the sum assured will be provided if the customer dies or is still alive but the policy contract was over.
- Suitable protection while saving souls
- Premium costs are relatively high because refunds more flexible coverage and benefits savings that you can use for immediate need.
4. Life Insurance Unit Link Insurance - Plus Investment
This type of insurance is the most recent products from the insurance company that combines insurance and investment which is the answer to the needs of clients who are interested in investing and want to still get the protection of life and health.
The Characteristics Of Insurance Link Units
- The premiums are expensive, fixed investment profits or losses are borne by the customer.
- Return back the investment used to pay additional insurance cost when there is a premium on leave facilities.
- Return of investment can be taken back when urgent needs such as education or retirement.
- Practical for customers who want to protect the insurance at the same time in one of the same product
- The results of the investment can be drawn in a certain period of time.
- Value investing is not a pure investment, as well as maximum value protection is also not of pure life insurance
- Consider well before deciding to take the unit links, because this is an insurance product and a long term investment. If you stop in the middle of the road then it will lose.